|
|
 |
 |
| Sunday, 15 August 2004 |
 |
|
 |
Business |  |
| News Business Features Editorial
|
New Chairperson, LOLC Rohini Nanayakkara assumed duties as the new Chairperson of LOLC recently. She began her career in 1959 at the Bank of Ceylon and served in many executive capacities including Deputy General Manager and Senior Manager in many departments that make up a bank she was the automatic choice to represent the Bank of Ceylon on the Boards of several financial institutions, including the National Development Bank and Development Finance Corporation of Ceylon. Her specialized training led her to two six-month stints abroad, the first being in the Overseas Trade Promotion Division of Midland Bank, London and later in the International Division of Bank Bruxelles Lambert in Belgium. Ms. Nanayakkara was also a grantee under the International Visitor Programme to America, which gave her the opportunity to explore banking norms there. She has worked in tandem with high-profile Management Consultants like Booz Allen & Hamilton, New York. She was appointed the Bank of Ceylon's first-ever woman General Manager in 1988 - the first woman to man this position in the Asian region. Administering a cadre of over 10,000 apart from 321 local branches and four overseas, Nanayakkara is acknowledged as the force behind the standing the Bank of Ceylon enjoys today. On retirement, she took up an appointment as General Manager/CEO to set up the Private Sector Infrastructure Development Company under the Ministry of Finance with World Bank assistance and then returned to banking - this time as CEO of the Seylan Bank. This was another achievement as the first woman to head a private commercial bank. Mrs. Nanayakkara's unique abilities will no doubt add to LOLC's standing, not only as a blue-chip, but also as a total financial solutions provider in Sri Lanka's business world. Lanka ORIX LEASING Company (LOLC) now acknowledged as the first name in leasing and a company in the process of diversification, is the first leasing company to have subsidiaries in factoring, insurance brokerage, stock-broking, finance and IT - and more plans in the pipeline. LOLC has maintained a continuing upward trend in both turnover and profits. In 2001, profits increased by 53% compared to the previous year. Every ensuing financial year has since turned out to be 'the best year to-date'. Profits for the financial year ended 31st March '04 was Rs. 418 million - a growth of 64% as compared to the previous year. Today, market capitalization has reached Rs. 3.3 Billion - an unbelievable 1135% growth in 52 months. LOLC is a member of the ORIX Group of Japan and it is that here the core strength of the Company lies. ORIX Group, Japan, began in 1964, pioneering leasing in their home market. Over the years, this policy has expanded to providing not just prime financial solutions, but advisory and value-added services as well. The first overseas subsidiary was established in 1971 in Singapore. The rest of South East Asia was quickly dotted with ORIX offices. In 1980, a resurgent economy in Sri Lanka needed a new and high-benefit boost. Leasing was the method suggested by the World Bank. ORIX was chosen to blaze the trail - and the rest, as they say, is history. Today, ORIX has a presence in the Americas, Africa, Europe, Australia, New Zealand and more. In 1998, ORIX gained a listing on the New York Stock Exchange. ORIX, the world's largest independent leasing company and Japan's second-largest financial services provider, continues to expand business and as always, inculcates the unique ORIX way to better entrepreneurial endeavour throughout the global network. |
|
News | Business | Features
| Editorial | Security Produced by Lake House |
